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Rackspace Technology Enhances User Experience and Operational Performance for Sharestates through AWS Cloud Modernization

June 4, 2024

Rackspace Technology Enhances User Experience and Operational Performance for Sharestates through AWS Cloud Modernization

Rackspace Technology Enhances User Experience and Operational Performance for Sharestates through AWS Cloud Modernization 

Seamless migration to AWS delivers improved customer experience, optimized operations, and the latest cloud technologies to support future growth  

San Antonio, TX, June 4, 2024 – Rackspace Technology® (NASDAQ: RXT), the leading end-to-end, hybrid multicloud, and AI solutions company, today announced it has aligned Sharestates for future growth goals and enhanced infrastructure by migrating to Amazon Web Services (AWS) for its cost-effectiveness, industry adoption, and redundancy capabilities. The infrastructure transition improved customer experience, optimized operations and scalability, and provided the company with the latest cloud technologies and best practices. 

Sharestates creates customized lending solutions for real estate investors and developers through its online marketplace. Since its founding in 2014, the company has funded more than $3 billion in projects nationwide. Sharestates’ achievements are rooted in its experienced leadership team, prudent underwriting practices, and focus on building strong relationships with borrowers, brokers, vendors, $3 billion in projects nationwide. Sharestates’ achievements are rooted in its experienced leadership team, prudent underwriting practices, and focus on building strong relationships with borrowers, brokers, vendors, and investors. 

“The decision to migrate to AWS has modernized Sharestates’ infrastructure, enhanced security, and increased efficiency. Through a three-pronged approach leveraging AWS, Sharestates now has a new, secure infrastructure as a foundation, monitoring by Rackspace and the ability by Sharestates to maintain its own internal system,” said D K Sinha, President of Public Cloud Rackspace Technology. “The new infrastructure approach has enhanced Sharestates’ customer experience, optimized operations, improved scalability, and provided the company the latest cloud technologies and best practices.” 

“Our infrastructure transition was a significant milestone for Sharestates, and the Rackspace team played a crucial role in helping to ensure a smooth process. The comprehensive documentation provided by the Rackspace team served as a valuable resource to communicate the changes and gain necessary approvals,” said Radni Davoodi, Acting Chief Operating Officer and Co-Founder, Sharestates. “The Rackspace team mapped everything so brilliantly, like a roadmap or a cheat sheet, making it easy to approve each change quickly.” 

Since the migration, Sharestates has realized several improvements: 

  • Faster user interface experience by investors. 
  • Improved internal reporting experience by staff.
  • Faster processing speed by borrowers.
  • Improved performance of web application modules by all users. 
  • Improved banking transfer processing speed. 

“We recommended a single-phase migration, allowing the transition to be completed over a weekend without downtime. Using the Landing Zone Accelerator on AWS (LZA), the Rackspace team deployed a secure and compliant landing zone in less than two weeks, providing a solid foundation for Sharestates’ AWS environment,” added D K Sinha. “The migration team utilized various tools and services, including AWS Application Migration Service and proprietary scripts, to efficiently migrate Sharestates’ 3TB of data across 11 servers, ensuring a smooth and secure transition.” 

Click here to read the Sharestates case study for more details on the infrastructure migration completed by Rackspace Technology.  

About Rackspace Technology 

Rackspace Technology is a leading end-to-end hybrid, multicloud, and AI technology services company. We design, build, and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies. 

Media Contact: Natalie Silva, publicrelations@rackspace.com 

About Rackspace Technology

Rackspace Technology® (NASDAQ: RXT) is the operator of the full enterprise AI stack from governed private cloud to AI inference and agents in production. With an Outcomes-as-a-Service model built on secure infrastructure, data foundations, and forward-deployed engineering, Rackspace delivers business results for regulated and mission-critical industries where governance, sovereignty, and uptime are non-negotiable. Learn more at www.rackspace.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events and can be identified by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continues,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect,” “is putting,” “designed to,” or the negative of such terms or other similar expressions, although not all forward-looking statements contain these words.

 These statements include, but are not limited to, Rackspace Technology’s relationship with NVIDIA and the NVIDIA Cloud Partner Program, its Enterprise AI Cloud strategy, the anticipated capabilities, benefits and timing of its Institutional Sovereign Pod architecture, Rackspace’s outlook on the AI industry and its ability to deliver, operate, and scale AI infrastructure and solutions for regulated, institutional and sovereign enterprises. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including, without limitation: Rackspace's ability to realize the anticipated benefits of its relationship with NVIDIA and the NCP program; the availability, cost, and timing of deployment of NVIDIA and other third-party technology; Rackspace's ability to develop, market, and scale the Institutional Sovereign Pod and related offerings on the anticipated timeline or at all; market acceptance of and demand for sovereign and governed AI infrastructure solutions; competition in the AI infrastructure and cloud services markets; capital expenditure requirements associated with AI infrastructure buildout; availability of financing for the AI infrastructure buildout on terms acceptable to Rackspace; Rackspace’s reliance on a limited number of technology partners, including NVIDIA; cybersecurity, data privacy, and regulatory compliance risks associated with serving regulated and sovereign customers; general economic and industry conditions; and other risks and uncertainties described in Rackspace's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Rackspace undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.